Valencia president Amadeo Salvo had claimed earlier on Tuesday that any side keen on signing Guaita would have to pay the keeper's release clause of €30 million, although the Costa Blanca club were willing to sell for a price of €20m after the 26-year-old's representatives disclosed their player's intention to quit Mestalla.

Arsenal, however, were only prepared to pay around €15m for the goalkeeper, who was left on the bench for Valencia's 1-0 win over Malaga on Saturday as coach Miroslav Djukic opted instead for Brazilian Diego Alves.

That decision infuriated Guaita and the goalkeeper set his sights on a move to north London, but he will now be forced to fight for his place at Mestalla unless a cut-price deal can be agreed later on in the window.

Arsenal and Valencia closed the talks in an amicable fashion and agreed to remain in contact over Guaita, whose current contract expires in 2015.